Iron ore plant takes shape in Prakasam as JSW joins hands with Andhra Pradesh Mineral Development Corporation
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Vijayawada: In a major boost to industrial development in the backward Prakasam district, the state govt has roped in steel giant JSW to take up an iron ore beneficiation plant. The project is expected to generate local employment and revitalize the region's mineral economy.
The AP Mineral Development Corporation (APMDC) has signed an MoU with JSW to kick-start the iron ore beneficiation plant near Konijedu and Marlapadu village of Tangutur mandal. The state govt has spared about 1300 acres of land for setting up the iron ore beneficiation plant.
In fact, the issue of setting up the iron plant in Prakasam has been on the cards for several years since Geological Survey of India (GIS) found iron ore reserves.
After carrying out the initial studies, it was found that the iron ore available in the area is not of fine quality. This resulted in a delay in getting investments into the area. APMDC itself carried out separate studies and found that the mineral available in Prakasam districts could be utilized in steel and other allied industries after purification.
Sources said that the local mineral has just around 30% iron content. However, the grading would be improved after beneficiation. According to the deal made with APMDC, JSW itself will launch the exploration operation and purchase the iron ore stock at the price fixed by Indian Bureau of Mines (IBM). Subsequently, JSW will process it in the plant and sell it in the market and also utilize in its own plants. JSW will pay 11% royalty to APMDC from the processed stock.
Sources said that JSW would set up the plant and also manage it with its own cost.
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Iron ore plant takes shape in Prakasam as JSW joins hands with Andhra Pradesh Mineral Development Corporation
1 2 3 Vijayawada: In a major boost to industrial development in the backward Prakasam district, the state govt has roped in steel giant JSW to take up an iron ore beneficiation plant. The project is expected to generate local employment and revitalize the region's mineral economy. The AP Mineral Development Corporation (APMDC) has signed an MoU with JSW to kick-start the iron ore beneficiation plant near Konijedu and Marlapadu village of Tangutur mandal. The state govt has spared about 1300 acres of land for setting up the iron ore beneficiation plant. In fact, the issue of setting up the iron plant in Prakasam has been on the cards for several years since Geological Survey of India (GIS) found iron ore reserves. After carrying out the initial studies, it was found that the iron ore available in the area is not of fine quality. This resulted in a delay in getting investments into the area. APMDC itself carried out separate studies and found that the mineral available in Prakasam districts could be utilized in steel and other allied industries after purification. Sources said that the local mineral has just around 30% iron content. However, the grading would be improved after beneficiation. According to the deal made with APMDC, JSW itself will launch the exploration operation and purchase the iron ore stock at the price fixed by Indian Bureau of Mines (IBM). Subsequently, JSW will process it in the plant and sell it in the market and also utilize in its own plants. JSW will pay 11% royalty to APMDC from the processed stock. Sources said that JSW would set up the plant and also manage it with its own cost.
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